Coinbase Pro announced today that it will go live with Dogcoin and is now open for deposits. Once liquidity conditions are met, trading will begin on or after June 3rd at 9am PT.
Dogcoin is the seventh largest cryptocurrency with a market cap of $43.7 billion. Following the news, Dogcoin pulled up briefly, jumping to $0.33 per coin.
This gain may not seem like much compared to the recent volatility in the cryptocurrency market, but dogcoin rose the most among CoinGecko’s top 100 tokens. Bitcoin and ethereum both fell today.
Dogcoin, the cryptocurrency that started as a joke in 2013, has been worth less than a penny until this year. However, Tesla CEO Elon Musk and Dallas Mavericks owner Mark Cuban both backed the token, which was priced as high as $0.74 last month.
Coinbase is one of the top five exchanges in terms of daily trading volume, according to Nonomy.
Initially, DOGE will support five trading pairs, including DOGE/USD, DOGE/BTC, DOGE/EUR, DOGE/GBP and DOGE/USDT. DOGE trading will be launched in three staggered phases, starting with passive commissions, followed by limited trading, and finally full trading.
Coinbase said, “If at any time one of the new orders does not meet our assessment of a healthy and orderly market, we may hold that order in one state for a longer period of time or suspend trading in accordance with our trading rules.”
Dogcoin’s addition to Coinbase will be one of the biggest crypto events of the year.
At one point during the market frenzy, DOGE cleared more than Bitcoin, highlighting the high demand for the asset. Twitter activity around dogcoin also briefly surpassed bitcoin earlier this year.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/coinbase-pro-to-go-live-with-dogcoin-dogcoin-jumps-on-the-news/
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